The retail sector whipsawed higher Friday, after National Economic Council Director Gary Cohn reportedly said the White House doesn’t support the GOP’s border-adjustment tax plan. That came less than 24 hours after Trump sent the sector reeling, after he reportedly expressed approval of a border-adjusted taxes. The SPDR S&P Retail ETF jumped 1.7% in afternoon trade, after being down as much as 0.5% earlier in the session. The ETF had slumped 2.3% on Thursday, after Trump told Reuters he approved of a border-adjusted tax. Among some of the ETF’s components, shares of Wal-Mart Stores Inc. rose 1%, of Target Corp. climbed 2.3% and of Home Depot Inc. gained 0.6%. The ETF has lost 6.4% over the past three months, while the S&P 500 has gained 7.0%.
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